PROVIDENCE – The average price of self-serve, regular unleaded gasoline in Rhode Island dropped to $3.36 per gallon on Monday, 4 cents less than last week and 5 cents lower than the national average, according to AAA Northeast.
The agency said pump prices have fallen every day since Jan. 28. Fewer people fueling up and lower costs for oil are behind the price dip.
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“Drivers may have a little more in their wallets as we head toward Valentine’s Day,” said Diana Gugliotta, director of public affairs for AAA Northeast, “and if gas demand and oil costs remain low, drivers will likely see pump prices drop through next week.”
According to new data from the Energy Information Administration, gas demand dipped slightly from 8.49 million to 8.43 million barrels per day last week. The current gas demand rate is approximately 700,000 barrels per day lower than the rate during the first week of February 2022, helping to explain why gas prices are declining, the agency said.
Midgrade gas in Rhode Island averaged $3.99 per gallon on Monday.
Premium gas averaged $4.30 per gallon.
Diesel fuel averaged $4.97 per gallon.
In Massachusetts, the average price of regular gas decreased by 4 cents from a week ago, to $3.38 per gallon.
One year ago, the average price for regular unleaded gasoline in the Bay State was $3.49 per gallon.
Midgrade gas in Massachusetts averaged $3.94 per gallon on Monday.
Premium gas averaged $4.29 per gallon.
Diesel fuel averaged $4.98 per gallon.
